Involve us early
One of the greatest fears for directors is how creditors will respond to the news that they will not be paid on time, or maybe not at all. Big organisations often have seemingly inflexible policies while smaller creditors can react emotionally to the situation. It may be the company can be saved and creditors eventually paid in full if it is possible to buy some time. This is where having an insolvency practitioner involved as early as possible can be invaluable.
We can guide you through the realities. If necessary we can deal with your creditors directly taking the heat off you and creditors in turn can be reassured that the distressed business is receiving proper advice.
How can we help?
- Act as intermediary, either advising you in the background or dealing directly with creditors and spelling out the situation in legal and commercial terms.
- Often the biggest consideration is negotiating with HMRC on time to pay, requests for security deposits or if you have received an Accelerated Payment Notice (APN).
- Setting up consignment stock arrangements.
- Negotiating retention of title claims.
- Advising on taking security over assets of the business.
- Explaining the nuances of any formal insolvency procedure, such as company voluntary arrangement (“CVA”) proposals.
Above all we can introduce some certainty into a fraught situation. Whilst this might be your first time dealing with creditors as a director we have faced similar circumstances many times over on behalf of our clients and we know exactly what to do for the best.
Director
- 01603 877641
- 07786 242344
- tonyharrison@mw-w.com
- Prospect House, Rouen Road, Norwich, NR1 1RE
Understand your financial options
Check the health of your business with our free business health check tool.
Get an indication as to whether your company has what it needs to survive.
Includes:
-Company health assessment
-Types of liquidation available
-Options & next steps
*All information provided is completely confidential and will not be shared with a third party
Free advice line for distressed company directors > 08003317417
How can we help - Book a free 1-2-1
If your company is struggling with unmanageable debts, decreased cashflow or concerns about about your company’s future, we can assess your situation and provide you with tailored solutions and options.
During your free initial advice meeting, we will discover a true picture of your company’s financial situation
and offer practical and expert guidance on your next steps.
Initial meetings can be held at our office or your premises and are completely confidential.
There is no charge for this meeting – charges only apply if and when terms of engagement have been agreed.
Related services
BUSINESS RESCUE & INSOLVENCY SPECIALISTS
Download your free Directors' guide
This free, easy-to-read guide is designed to help directors whose company is in financial distress. It will assist directors to navigate around insolvency issues and avoid potential pitfalls, split over ten sections this guide walks you through the matters in a logical order you are
likely to need to consider.
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